This episode provides actionable strategies for Amazon sellers to boost profitability and mitigate risks. Learn how to leverage refund requests, navigate trademark infringement, and transform brand relationships from adversarial to advantageous, even turning initial rejections into long-term supplier partnerships. The hosts emphasize the power of strategic communication and using tools like Keepa to proactively manage your Amazon business.
Key takeaways
Proactively requesting refunds can significantly boost your Amazon seller profits, as many sellers overlook this revenue stream.
When faced with a brand's 'no,' don't give up; instead, try to build rapport, negotiate deals (like selling back products), or wait for their needs to align with yours as they seek more online sellers.
Utilize Keepa's offer listings chart to identify potential IP claims: a drastic drop in offers with stable or improved sales rank often signals an intellectual property filing.
Maintain positive communication with brands, even those that initially reject you, as they may become direct suppliers down the road as their online presence grows and they need more sellers.
Increasing your inventory directly correlates with increased sales on Amazon, highlighting the importance of robust inventory management for growth.
Sometimes requesting for a refund can get you a lot of money. This is one of the things Scott has learned as he has been an Amazon seller. Amazonlit made their first million in 2015, which was all retail arbitrage. Trademark infringement has become a bigger issue over time. Now they pay more attention to this problem and they have drastically reduced those claims. 9 times out of 10, people you talk to over the phone will not be a jerk. If a certain brand complains, you can get them on the phone and sell the products back to them or work out a deal. Having a little bit of personality doesn’t hurt when trying to sell. Never take a no as a hard no. Brands can turn into your suppliers years down the road after having said no to you. Their sales have gone up as their inventory has increased. As companies have been growing online, they need more sellers, so keeping a positive communication with them has caused them to reach out down the line. Erik and Sebastian have created a mastermind group for Amazon sellers to provide the knowledge they need to become successful. Amazon is large enough that everyone can get a piece of the pie. Their mastermind group covers everything an Amazon seller will need to make their business as efficient and lucrative as possible. Their first million 2:53Pivoting - the word of 2020 16:44Sharing secrets doesn’t negatively impact your business 20:56“We use keepa and we look at that third chart, the offer listings. And when we see that there’s a dramatic decrease that happens and the sales rank hasn’t decreased as well at the same time… if the sales ranks stays the same, or goes up and the offers slide down drastically, then that tells us an IP was filed at that time. Follow Eric Castellanos and Sebastian Quik:Instagram: @Amazon_litamazonlit.comhttps://www.instagram.com/smartestseller/https://www.buyboxer.com/Send Scott an Email: scottneedham@buyboxer.com
What does this episode say about amazon & marketplaces?
Proactively requesting refunds can significantly boost your Amazon seller profits, as many sellers overlook this revenue stream.
What does this episode say about founder & leadership?
When faced with a brand's 'no,' don't give up; instead, try to build rapport, negotiate deals (like selling back products), or wait for their needs to align with yours as they seek more online sellers.
What does this episode say about supply chain & operations?
Utilize Keepa's offer listings chart to identify potential IP claims: a drastic drop in offers with stable or improved sales rank often signals an intellectual property filing.
What does this episode say about amazon & marketplaces?
Maintain positive communication with brands, even those that initially reject you, as they may become direct suppliers down the road as their online presence grows and they need more sellers.
What does this episode say about amazon & marketplaces?
Increasing your inventory directly correlates with increased sales on Amazon, highlighting the importance of robust inventory management for growth.
